Corn Laws in the context of "The Economist"

⭐ In the context of The Economist, what was the primary initial purpose for its founding?

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⭐ Core Definition: Corn Laws

The Corn Laws were tariffs and other trade restrictions on imported food and corn enforced in the United Kingdom between 1815 and 1846. The word corn in British English denotes all cereal grains, including wheat, oats and barley. The laws were designed to keep corn prices high to favour domestic farmers, and represented British mercantilism. The Corn Laws blocked the import of cheap corn, initially by simply forbidding importation below a set price, and later by imposing steep import duties, making it too expensive to import it from abroad, even when food supplies were short. The House of Commons passed the corn law bill on 10 March 1815, the House of Lords on 20 March and the bill received royal assent on 23 March 1815.

The Corn Laws enhanced the profits and political power associated with land ownership. The laws raised food prices and the costs of living for the British public, and hampered the growth of other British economic sectors, such as manufacturing, by reducing the disposable income of the British public.

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👉 Corn Laws in the context of The Economist

The Economist is a British news and current affairs journal published in a weekly print magazine format and daily on digital platforms. Variously referred to as a magazine and a newspaper, it publishes stories on topics that include economics, business, geopolitics, technology and culture. Mostly written and edited in London, it has other editorial offices in the United States and in major cities in continental Europe, Asia, and the Middle East. The publication prominently features data journalism, and has a focus on interpretive analysis over original reporting, to both criticism and acclaim.

Founded in 1843, The Economist was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into political economy and eventually began running articles on current events, finance, commerce, and British politics. Throughout the mid-to-late 20th century, it greatly expanded its layout and format, adding opinion columns, special reports, political cartoons, reader letters, cover stories, art critique, book reviews, and technology features. The paper is recognisable by its fire engine red masthead (nameplate) and illustrated, topical covers. Individual articles are written anonymously, with no byline, in order for the paper to speak as one collective voice. It is supplemented by its sister lifestyle magazine, 1843, and a variety of podcasts, films, and books. It is considered a newspaper of record in the UK.

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Corn Laws in the context of Regency era

The Regency era of British history is commonly understood as the years between c. 1795 and 1837, although the official regency for which it is named only spanned the years 1811 to 1820. King George III first suffered debilitating illness in the late 1780s, and relapsed into his final mental illness in 1810. By the Regency Act 1811, his eldest son George, Prince of Wales, was appointed Prince Regent to discharge royal functions. The Prince had been a major force in Society for decades. When George III died in 1820, the Prince Regent succeeded him as George IV. In terms of periodisation, the longer timespan is roughly the final third of the Georgian era (1714–1837), encompassing the last 25 years or so of George III's reign, including the official Regency, and the complete reigns of both George IV and his brother and successor William IV. It ends with the accession of Queen Victoria in June 1837 and is followed by the Victorian era (1837–1901).

Although the Regency era is remembered as a time of refinement and culture, that was the preserve of the wealthy few, especially those in the Prince Regent's own social circle. For the masses, poverty was rampant as urban population density rose due to industrial labour migration. City dwellers lived in increasingly larger slums, a state of affairs severely aggravated by the combined impact of war, economic collapse, mass unemployment, a bad harvest in 1816 (the "Year Without a Summer"), and an ongoing population boom. Political response to the crisis included the Corn Laws, the Peterloo Massacre, and the Representation of the People Act 1832. Led by William Wilberforce, there was increasing support for the abolitionist cause during the Regency era, culminating in passage of the Slave Trade Act 1807 and the Slavery Abolition Act 1833.

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Corn Laws in the context of Benjamin Disraeli

Benjamin Disraeli, 1st Earl of Beaconsfield (21 December 1804 – 19 April 1881), was a British statesman, Conservative politician and writer who twice served as Prime Minister of the United Kingdom. He played a central role in the creation of the modern Conservative Party, defining its policies and its broad outreach. Disraeli is remembered for his influential voice in world affairs, his political battles with the Liberal Party leader William Ewart Gladstone, and his one-nation conservatism or "Tory democracy". He made the Conservatives the party most identified with the British Empire and military action to expand it, both of which were popular among British voters. He is the only British prime minister to have been born Jewish.

Disraeli was born in Bloomsbury, at that time a part of Middlesex. His father left Judaism after a dispute at his synagogue; Benjamin became an Anglican at the age of 12. After several unsuccessful attempts, Disraeli entered the House of Commons in 1837. In 1846, Prime Minister Robert Peel split the party over his proposal to repeal the Corn Laws, which involved ending the tariff on imported grain. Disraeli clashed with Peel in the House of Commons, becoming a major figure in the party. When Lord Derby, the party leader, thrice formed governments in the 1850s and 1860s, Disraeli served as Chancellor of the Exchequer and Leader of the House of Commons.

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Corn Laws in the context of Peterloo Massacre

The Peterloo Massacre took place at St Peter's Field, Manchester, England, on Monday 16 August 1819. Eighteen people were killed and 400–700 were injured when the cavalry of the Yeomen charged into a crowd of around 60,000 people who had gathered to demand the reform of parliamentary representation.

After the end of the Napoleonic Wars in 1815, there was an acute economic slump, accompanied by chronic unemployment and harvest failure due to the Year Without a Summer, and worsened by the Corn Laws, which kept the price of bread high. At that time, only around 11 percent of adult males had the right to vote, very few of them in the industrial north of England, which was worst hit. Radicals identified parliamentary reform as the solution, and a mass campaign to petition parliament for manhood suffrage gained three-quarters of a million signatures in 1817 but was flatly rejected by the House of Commons. When a second slump occurred in early 1819, Radicals sought to mobilise huge crowds to force the government to back down. The movement was particularly strong in the north-west, where the Manchester Patriotic Union organised a mass rally in August 1819, addressed by well-known Radical orator Henry Hunt.

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Corn Laws in the context of John Bright

John Bright (16 November 1811 – 27 March 1889) was a British Radical and Liberal statesman, one of the greatest orators of his generation and a promoter of free trade policies.

A Quaker, Bright is most famous for battling the Corn Laws. In partnership with Richard Cobden, he founded the Anti–Corn Law League, aimed at abolishing the Corn Laws, which raised food prices and protected landowners' interests by levying taxes on imported wheat. The Corn Laws were repealed in 1846. Bright also worked with Cobden in another free trade initiative, the Cobden–Chevalier Treaty of 1860, promoting closer interdependence between Great Britain and the Second French Empire. This campaign was conducted in collaboration with French economist Michel Chevalier, and succeeded despite Parliament's endemic mistrust of the French.

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Corn Laws in the context of John Russell, 1st Earl Russell

John Russell, 1st Earl Russell (18 August 1792 – 28 May 1878), known as Lord John Russell before 1861, was a British Whig and Liberal statesman who was Prime Minister of the United Kingdom from 1846 to 1852 and again from 1865 to 1866.

The third son of the 6th Duke of Bedford, Russell was educated at Westminster School and Edinburgh University before entering Parliament in 1813. In 1828 he took a leading role in the repeal of the Test Acts which discriminated against Catholics and Protestant dissenters. He was one of the principal architects of the Reform Act 1832, which was the first major reform of Parliament since the Restoration, and a significant early step on the road to democracy and away from rule by the aristocracy and landed gentry. He favoured expanding the right to vote to the middle classes and enfranchising Britain's growing industrial towns and cities, but he never advocated universal suffrage and he opposed the secret ballot. Russell was outspoken on many issues over the course of his career, advocating Catholic emancipation in the 1820s, calling for the repeal of the Corn Laws in 1845, denouncing Pope Pius IX's revival of Catholic bishoprics in 1850, and supporting Italian unification during the 1860s.

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Corn Laws in the context of Henry Hunt (politician)

Henry "Orator" Hunt (6 November 1773 – 13 February 1835) was an English radical speaker and agitator remembered as a pioneer of working-class radicalism and an important influence on the later Chartist movement. He advocated parliamentary reform and the repeal of the Corn Laws. He was the first member of parliament to advocate for women's suffrage; in 1832 he presented a petition to parliament from a woman asking for the right to vote. He was the leading figure in the events leading to Peterloo massacre.

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Corn Laws in the context of Manchester Liberalism

Manchester Liberalism (also called the Manchester School, Manchester Capitalism and Manchesterism) comprises the political, economic and social movements of the 19th century that originated in Manchester. Led by Richard Cobden and John Bright, it won a wide hearing for its argument that free trade would lead to a more equitable society, making essential products available to all. Its most famous activity was the Anti-Corn Law League that called for repeal of the Corn Laws that kept food prices high. It expounded the social and economic implications of free trade and laissez-faire capitalism. The Manchester School took the theories of economic liberalism advocated by classical economists such as Adam Smith and made them the basis for government policy. It also promoted pacifism, anti-slavery, freedom of the press and separation of church and state.

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